As you may know, Solyndra is a company in California that recently went bankrupt.
What's the scandal about a company going into bankruptcy?
First, there are huge connections between Solyndra and the Obama administration; and,
Second, the US government guaranteed a $500 million loan!
Ed Morrissey alerted me to this story a couple of weeks ago:
"The Obama administration chose Solyndra as its poster child for this effort. The White House fast-tracked approval for taxpayer-backed loan guarantees.
The company received $535 million from the Treasury’s Federal Financing Bank in order to build a new manufacturing facility.
Obama himself appearanced at Solyndra touting his green-jobs initiative, while Solyndra insisted as late as this summer that their financial status was strong."
Bruce Krasting has also written about this:
"He never spoke to Obama about this? Not even once? Not even when Obama went (twice) to the company’s manufacturing offices in Pa and CA? I don’t believe that denial."
The Solyndra story will get "hot" this week because of House hearings. It will be interesting to see if the Obama administration can dance around this one like the "guns to Mexico" ATF scandal. (Read Brian Ross's report)
Here is the bottom line: Get the government out of the loan guarantee business! Let the market decide who gets or doesn't get a loan.
We spoke with Brucke Krasting about this on Tuesday's show:
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Tags: Poliical thoughts, Solyndra, another "jobs speech" and the GOP debate To share or post to your site, click on "Post Link". Please mention / link to the My View by Silvio Canto, Jr. Thanks!
